Ripple USD (RLUSD)
Rank #38
Market snapshot
- Price
- $1.00
- Market cap
- $1.8B
- 24h volume
- $431.1M
- Circulating supply
- 1,815,473,073.7048
- Total supply
- 1,815,473,073.7048
- Max supply
- N/A
What is Ripple USD?
Ripple USD is a stablecoin that combines the price stability of fiat money with the speed and global reach of blockchain networks. It is designed for use in payments, remittances, treasury flows, and on/off-ramp services within the Ripple ecosystem. XRP is the native cryptocurrency of the XRP Ledger (XRPL).
How Ripple USD works
Stablecoins like Ripple USD differ from other cryptocurrencies as they merge the price stability of fiat currencies with blockchain technology. RLUSD is built on the XRP Ledger, which is a decentralized, layer-1 blockchain. The XRP Ledger allows for fast transaction processing and is supported by a network of validators, ensuring the integrity of transactions. Ripple may also support additional blockchain networks in the future.
Key information
- Symbol
- RLUSD
- CMC rank
- #38
- Network / platforms
Base, Ethereum, Ink, Optimism
- Categories
- N/A
- Date added
- Dec 18, 2024
Contract address
Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.
Base
0x8d58c0c60b8d6b88fa98b291a646db34d0f98258Ethereum
0x8292bb45bf1ee4d140127049757c2e0ff06317edInk
0x8d58c0c60b8d6b88fa98b291a646db34d0f98258
Key characteristics
The XRP Ledger is open-source technology on which anyone can build. Ripple USD operates within the Ripple ecosystem, facilitating efficient financial transactions. It is categorized under various tags, including stablecoin and asset-backed stablecoin.
Documented uses
Ripple USD can be used for major trading pairs on select centralized exchanges. Financial use cases are made more efficient and accessible with easy buying, on-ramping, trading, and more.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Ripple USD (RLUSD)?
- Ripple USD (RLUSD) is a stablecoin designed to maintain price stability while leveraging blockchain technology, specifically within the Ripple ecosystem.
- How does Ripple USD work?
- Ripple USD operates on the XRP Ledger, a decentralized blockchain that allows for fast and efficient transactions. It combines the stability of the US dollar with the benefits of blockchain technology.
- What are the technical characteristics of Ripple USD?
- Ripple USD is built on the open-source XRP Ledger, which allows anyone to build applications on top of it. This enables a wide range of financial services within the Ripple ecosystem.
- What are the risks associated with transferring Ripple USD?
- Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling.
- Where can I find official resources for Ripple USD?
- You can find official resources for Ripple USD on the Ripple website and in their whitepaper.
- How can I verify Ripple USD before acquiring it?
- Verify the asset name, network, and any supplied contract details before transferring. Ensure you are aware of the custody method.
